GXT Completes Acquisition of GulfSpan OBC

GX Technology, a leading seismic imaging services provider and a subsidiary of Input/Output, Inc. has complted GulfSpan OBC,
an ocean bottom cable extension of GXT's acclaimed GulfSpan seismic data library for the Gulf of Mexico (GoM). GulfSpan OBC was designed to deliver high resolution images of the ultra-deep section of the GoM shelf and to map the continuity of subsurface reservoir horizons from the onshore Gulf coast offshore into the deepwater. This imaging program represents a number of firsts for GXT, including:

* GXT's first Span to be acquired without towed streamer technology
* GXT's first full-wave Span program, leveraging VectorSeis® Ocean
* GXT's first Span program to include onshore seismic data

Mick Lambert, President of GXT, stated, "The Gulf of Mexico remains an
extremely active region as oil & gas companies continue to look to deeper
waters and deeper horizons for new drillable prospects. Like all of our
Spans, GulfSpan OBC was designed with the specific imaging objectives of the
oil & gas companies in mind. In this case, our customers wanted a program
that better resolved the deep geology of the Gulf of Mexico shelf and that
tied prospective horizons to analogous zones onshore and in the deepwater.
GulfSpan OBC customers are finding that this new look at the depositional
history of the shallow water shelf has begun to change their conventional
interpretations of the regional geology in the area. Both we and our
customers are hopeful that GulfSpan OBC will generate a new wave of drilling
and discoveries in the Gulf."

To improve the frequency content of the acquired data, GXT used I/O's
VectorSeis Ocean (VSO) seabed acquisition system. VSO is designed to record
broadband, high resolution, full-wave data from the low noise environment of
the ocean bottom. When VSO data is processed using the advanced PreSDM
algorithms and Image-Driven(TM) approach of GXT, the resulting image quality
is often significantly improved, allowing geoscientists to better map
structural and stratigraphic features in the subsurface including faults, salt
flanks, and steeply-dipping sand bodies.

GulfSpan OBC also extends to tie in select traverses from existing SEI and
GPI onshore seismic databases that are being reprocessed by GXT using advanced
processing workflows. As a result, the comprehensive GulfSpan library will
include upgraded land data that will be consistent with the regional
objectives of the overall GulfSpan program and allow customers to extend their
knowledge of the geology of the northern GoM through the transition zone and
to the up-dip basin margins onshore.

GulfSpan is the only basin-scale seismic data library that was purpose-
designed to deliver consistency of information across the entire northern Gulf
of Mexico. GulfSpan delivers insight into the deep basin architecture of the
GoM from the Florida Escarpment to Brownsville and from the uppermost reaches
of the basin to the deepwater border with Mexico. Containing 1,100 miles of
depth-migrated data, GulfSpan OBC fills a void in an area of intense industry
interest.

About Spans

GXT Spans are basin-wide, ultra-deep seismic data libraries that are
acquired and imaged using the most advanced geological and geophysical
technology available. Spans are custom designed to provide a holistic
understanding of petroleum systems including source rock deposition, migration
paths, sediment fairways, and reservoir trapping mechanisms. In addition to
the GoM, GXT Spans exist for the margin of West Africa and for offshore basins
in Colombia, India, Canada and the Caribbean. More Spans are planned for key
petroleum provinces around the world.

GX Technology (GXT), a subsidiary of Input/Output, Inc., is a leading
provider of Image-Driven(TM) seismic solutions. Oil & gas companies apply
GXT's advanced imaging solutions to produce the highest fidelity land and
marine subsurface images and reduce the risk and cost of finding and producing
hydrocarbons. GXT's solutions include start-to-finish seismic acquisition
programs, time processing, pre-stack depth and time imaging, anisotropic
imaging, wavelet-based AVO analysis, 4D and full-wave services, and fracture
detection and modeling. GXT also provides software and services for seismic
acquisition planning, survey design and modeling. GXT is a Houston-based
company that operates regional service centers in Denver, London, Calgary,
Aberdeen, Caracas, Luanda and Port Harcourt.

I/O is a leading, technology-focused seismic solutions provider. The
company provides cutting-edge seismic acquisition equipment, software, and
planning and seismic processing services to the global oil and gas industry.
I/O's technologies are applied in both land and marine environments, in
traditional 2D and 3D surveys, and in rapidly growing areas like time-lapse
(4D) reservoir monitoring and full-wave imaging. Headquartered in Houston,
Texas, I/O has regional offices in Canada, Latin America, Europe, China,
Russia, Africa and the Middle East.